New construction pricing is often presented by the square foot or by the number of rooms in a home. This type of pricing provides consistency for real estate marketing purposes, but is a reflection of the average cost of building various styles of homes in a given location.
A noncorporate business whose owners actively participate in the organization's management and are protected against personal liability for the organization's debts and obligations. The limited liability company (LLC) is a hybrid legal entity that has both the characteristics of a corporation and of a partnership. An LLC provides its owners with corporate-like protection against personal liability. It is, however, usually treated as a noncorporate business organization for tax purposes.
DEFINITION of 'Limited Company-LC'. A form of incorporation that limits the amount of liability undertaken by the company's shareholders. The naming convention for this type of corporate structure is commonly used in the United Kingdom.It is commonly known as a limited liability company (LLC) in the United States and other parts of the world.Next Up. form of incorporation that limits the amount of liability undertaken by the company's shareholders. The naming convention for this type of corporate structure is commonly used in the United Kingdom. It is commonly known as a limited liability company (LLC) in the United States and other parts of the world. Next Up.